Amsterdam-based Rockstart, a global early-stage investor, and Danish sustainable energy company Ørsted announced on Thursday the first set of startups for the Ørsted Propel acceleration programme.
Rockstart and Ørsted teamed up and launched Ørsted Propel in 2022 to accelerate startups with the potential to revolutionise the energy sector as part of the new Ørsted Innovation Hub.
The first eight startups were selected from 150 applications from 30+ countries and cover a wide range of energy solutions, including solutions and strategies to optimise energy storage, strategies for decarbonisation, and much more.
The selected startups for the first batch are:
The four-month open innovation programme will support the selected startups with funding opportunities, resources to develop pilot projects, and other long-term engagements with Ørsted.
Ørsted: What you need to know
Ørsted is named after Hans Christian Ørsted, the Danish scientist who discovered electromagnetism in 1820. Ørsted claims its curiosity, passion, and interest in nature encompass everything needed to create a world that runs entirely on green energy.
The company develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, renewable hydrogen and green fuels facilities, and bioenergy plants.
Ørsted also claims to be the only energy company in the world with a science-based net-zero emissions target as validated by the Science Based Targets initiative (SBTi).
“The Ørsted Propel programme is a unique programme in which we combine the potential of startups and Ørsted’s experience in the renewable energy market. It is through corporations like this that we can work towards a more integrated energy system. By supporting innovations and testing technologies, Ørsted aims to create a world running entirely on green energy. I want to congratulate the eight participants and look forward to our future cooperation,” says Ruben Dijkstra, Managing Director Ørsted Benelux
Rockstart: What you need to know
Rockstart is an early-stage investor that empowers founders across three domains – Energy, AgriFood, and Emerging Technologies.
The Dutch VC firm invests in early-stage ventures. It provides access to capital, market, and expertise by connecting founders with co-investors, mentors, partners, corporates, and the wider Rockstart network.
The company has invested in more than 280 ventures, and its alum value is more than $1B. In addition, the company has invested in more than 60 agrifood and energy startups across Europe, Asia, and the US from its first two funds in 2019 and 2020 respectively.
Rockstart has notable exits such as Wercker, Bouw7, iClinic, and in 2021, 3D Hubs and Brincr. The company has offices in Amsterdam, Copenhagen, and Bogota.
Rune Theill, CEO & Co-Founder of Rockstart, says, “We at Rockstart are excited to welcome the first eight startups selected to participate in Ørsted Propel. The innovative solutions put forward by their founders have the potential to significantly optimise our energy system during a time when cost and access to renewable energy are some of the most critical factors from a geopolitical and macroeconomic perspective. We are proud to collaborate with Ørsted to further push for a greener and more sustainable energy system.”
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